SAO PAULO May 3 Itaú Unibanco Holding SA
beat first-quarter profit estimates on Wednesday,
benefiting from stricter cost and credit risk controls which
allowed Brazil's biggest bank by market value to trim
operational expenses and loan-loss provisions.
Recurring net income, a measure of profit excluding one-time
items, climbed 6 percent to a record 6.176 billion reais ($1.96
billion) from the previous three months, and topped an average
analysts consensus estimate of 6.010 billion reais compiled by
Management stuck with this year's operational targets, which
were first released in February.
($1 = 3.1532 reais)
(Reporting by Guillermo Parra-Bernal. Editing by Jane Merriman)